Under the Bretton Woods system, a country could alter its exchange rate
A) by changing its value relative to gold.
B) whenever it determined that there was a fundamental disequilibrium.
C) only when the IMF permitted due to a fundamental disequilibrium.
D) under no circumstances.
C
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The table below shows a pizzeria's fixed cost and variable cost at different levels of output. Pizza's sell for $20 each.Number ofPizzas Per DayFixed Cost($/Day)Variable Cost($/Day)050002550015050500250755004501005008501255001,650When the pizzeria makes 125 pizzas per day, its total revenue is:
A. $2,500 B. $125 C. $1,250 D. $20
In the short run, ________ determines output, and in the long run ________ determines output.
A. total spending; potential output B. potential output; total spending C. total spending; prices D. potential output; prices
After the imposition of a tax of $2 per unit of output, what is the profit maximizing price?
A) 11 B) 21 C) 31 D) 41 E) none of the above
If the marginal propensity to consume is equal to 0.8, the addition of $60 billion in aggregate expenditure will increase national income by
a. $48 billion b. $300 billion c. $60 billion d. $18.8 billion e. $108 billion